“A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals.” (source) At the beginning of every year, you should update your business plan with help of business plan writer.
1. Define your products & service
- Are you a product-based or service-based photographer?
- How is your pricing set up? (i.e. Session Fee + Collections)
- How do you deliver your images? (DVD, USB, Online Gallery, etc)
- What additional products do you sell?
2. Define Target Market: Who is your ideal client?
- How much money do they make per year?
- Where do they live?
- What age or gender are they?
3. Create Marketing Plan
- Where will you market yourself? (i.e. word of mouth, social media, bridal fair)
- How often will you market yourself? (i.e. quarterly, monthly, daily)
- How much will you spend on marketing?
- What products will you need for marketing? (i.e. business cards, postcards)
4. Plan Your Finances
- Keep your bank accounts separate
- Track monthly income and expense records
- Have a cash flow plan
5. Make Goals
Short-term goals:
- Equipment upgrades
- Monthly or yearly session number or income goals
Long-term goals
- 5 year plan
- 10 year plan (i.e. Travel, Own a studio, Full-time, Part-time, Hire employees)
PIN IT!
A Simple Business Plan for Photographers
Kylee Ann Maughan is a family and international brand photographer based in small-town Northern Utah. She has been a business owner for 13.5 years, and also runs a successful and award-winning associate team. Kylee hosts semi-annual retreats, speaks at conferences and teaches online courses about running a small business and marketing. Her niche in coaching is helping moms turn their passion into profit, while being the mom they dream of.
January 25, 2016
Kylee Maughan
